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the earnings season yet. here is the big news. amazon founder jeff bezos is buying "the washington post" newspaper for $250 million. this deal ends the graham family's 80 years of ownership. he calls this acquisition a personal endeavor. not amazon money he's using, this is his very own. and chairman and ceo don graham talking about this deal. >> jeff reached out to me less than a month ago. we met at a conference face to face, twice, the second week in july. we spent an hour together. he asked for time to study the numbers, we then spent another two hours together. and at the end of it, he said he thought he wanted to go ahead, but he obviously, he and his team needed time to look over the business and understand it more thoroughly. and then we -- he did and we quickly reached a deal. >> shares of washington post climbing to the highest level in almost five years. $588 and change. almost up $20 on this news. and this is something that we're really focused on just because of the journalism and everything. >> we have to. >> but the graham family. >> the graham family, giving it up after
time. >>> in other washington news, the white house preparing to release intelligence evidence alleging the use of chemical weapons by syria. secretary of state john kerry called last week's attack a "moral obscenity," and he's laid out the case for a u.s. military response. >> anyone who could claim that an attack of this staggering scale could be contrived or fabricated needs to check their conscience and their own moral compass. what is before us today is real, and it is compelling. so, i also want to underscore that while investigators are gathering additional evidence on the ground, our understanding of what has already happened in syria is grounded in facts, informed by conscience and guided by common sense. >> uncertainty about the possible military action against the syrian government is helping lift oil prices near a five-month high. and also, some new numbers on the massive california rim wildfire that continues to burn out of control. crews now have 20% of the fire contained. that's the good news. but it's still fanning out across the mountains in multiple directions, and the
deal to buy "the washington post." a column today says that the amazon founder's expertise in harnessing customer feedback could be a boon to the newspaper industry. publishers now track every click a reader makes online. the column also suggests -- listen to this -- bezos might be able to accelerate the personalization of news which has been a goal of many publishers. an enormous long tail of products is available at amazon from out-of-print books to highly specialized grocery items. there is an analogy to news if mr. bezos can use technology to make it work. news about my town is fine, but news affecting my neighborhood is better and news affecting my block is best. >> my question, and i keep hearing it over and over again, is somehow there's going to be this synergy between amazon and "the washington post," and that he's going to use people who worked at amazon to create these through technologies. >> i don't think that's going to be the case. it's going to be completely separated. >> it's going to be completely separated, and that's what i don't understand. how is he --
the syrian border. >> reporter: washington says this is not about regime change, that the united states doesn't want to get involved in syria's civil war, that this will simply be a punitive action so that the use of chemical weapons does not go unnoticed and unchallenged. >> there is no doubt who is responsible for this heinous use of chemical weapons in syria. the syrian regime. >> reporter: the leader of the free syrian army told us today he hopes three days of military strikes will just be enough to topple the regime, that it could weaken bashar al assad's grip on power just enough that the syrian rebels will be able to finish the mission and actually drive him from power. and in order to do that, the leader of the free syrian army told us in conjunction with a western military action that the rebels will launch their own offensive. they have already begun to stockpile ammunition, some new ammunition has been arriving. they have confirmed to us the question now is what will that leave the united states and what will it leave syria, if bashar al assad is toppled. there are many different r
whose workers they represent too. they have their own obligations. go back to 2005 washington post article, he hwe need to rework finances. a couple of people out a few years ago, former members or members of other unions questioning their cash flow situation. the afl-cio, regardless of the people, the companies it represents, has its own financial issues that it needs -- the only way, like any organization, doesn't matter what you are, you need new members to supply and fund old members. that's it. >> i wonder if there is a larger question of unions in america, where union membership is going, period. recently gone down, been a number of examples, obviously -- >> listen -- >> whether it is detroit or autos or airlines where it hasn't worked and yet we're now in a -- such a different economic environment, where i can see unions become more popular again. >> i think you're touching on an important topic, bigger than this. i understand wage inequality is at a record and it is awful and does great harm to social good. but -- >> but the bottom -- >> it is hard to find a country -- it i
're having the fed tapering at the same time we have two fiscal crises in washington. you got the continuing resolution, you need to fund past october. ten you have a debt zeal ceiling coming in okay. the confirmation of a new fed chairman. that seems like a lot of risk inherent. >> it does, do my earlier point, in 1983, paul soekrngs faul voe didn't tell anyone he was raising the rate. >> they destroyed bond market in the process. >> the stockmarket went down 9% over the course of two months. the last 2.5% corrects occurred on the rate hike in november. that was the last 2.5% correction for ten months. >> that's a great point, jeff, quickly, because we often in the media, we make this mistake. we assume it's a binary relationship, what's bad for one must be good for the other, vice-versa, simply not the case, is it? >> i think barry's.is the spot on. paul voelker came in in 1979 and raised the interest rates. had a smooth move. stocks quickly followed. it was off to the races on the upside. he is spot on with his analysis. >> final line, we got to go. this scary news over the weekend about
, that would be awesome together. >>> how do you say this -- washington news. lawmakers debating what to do about this awful situation in syria. john harwood joins us -- i'm trying to figure out, john, so you've got chemical weapons. you've got gas. where does it get you to use it? i don't -- that's the thing that's so puzzling. i don't know what this did for, allegedly we're now saying that the rebels probably didn't have the capacity to do it this way, and it was obviously done by someone. so we're -- i think we've known all along it was probably assad, but what was the point? i don't get it. it turns the entire world against you. >> reporter: well, on the one hand, you can strike terror in the hearts of the people you're fighting. and on the other hand, if they thought, in fact, that the world was not going to respond, it would have sent a message that the regime could do whatever it wants. but what we've seen as the situation has evolved over the last few days is that leading powers in the west including the united states have decided that they cannot ignore this. that's why we've got t
, this week, jeff bezos, someone you know very well, his acquisition of "the washington post," what do you think he's going to try to do with that? >> you know, i don't know. i think that jeff has been clearly -- he's got to be one of the best people in the world at just strategy, vision and sticking with things for the long term, so, you know, my guess is jeff has a very big vision for that asset. i was very happy to see him buy that asset and most importantly, i think for the graham family who i'm very close with, i think it's a great way that the grahams from a leadership position, looked at jeff and they partnered together for what i think will be the next evolution of the "washington post." but if you think about content being king and how important brands are, if you look at the "boston globe," "the washington post" and our acquisition of "the huffington post" you see the value of those type of assets in the world for people and once we get through this disruptive period those brands are really going to stand out. "the huffington post" acquisition for us has turned into a global powe
in june. john harwood joins us this morning from washington with a little bit more on this. maybe some other thoughts. what does this mean? nothing? zero? >> yeah, because we knew that cory booker was going to win this primary. we know he's going to win the general election. he's going to win it so easily, that chris christie didn't want to be on the same ballot with cory booker when chris christie himself is running for re-election. he will also win. but there is no mystery about this. this is a state that is very democratic. you would have to have some sort of republican star like chris christie himself to challenge somebody like booker. and so this is a seat the democrats are going to get back. and then we're going to have a fight over, you know, a half dozen or few more seats to see whether republicans can pick up the six they need to win a majority in the senate. >> another washington question for you, the president apparently next week after his vacation, i don't know if he's going on -- he's on vacation, i don't know if he's going back to vacation later, but apparently he's goin
the break when you sat down. you were complaining about the number of lobbyists. you had stats in washington. you had hadn't been to washington for a number of years. tell us what your insights were. >> it does trouble me there is a lot of lobbying going on, money is playing a much greater role in washington. i was in washington 25 years ago t. role of lobbyists and the role of money and compluns of money was considerably less then. it's in part because the government has gotten so much bicker. in part because lobbyists and government really have very specific goals and they influence the way laws are created. it's a large measure because various interest groups, sometimes for legitimate reasons, sometimes not, want to get their particular point in the law. so if they become more complicated. it's a self reenforcing front. >> if we had less government, we would have necessary e less lobbyists. >> i think we need simpler laws. >> this is physics. if we had less governments. >> we want the government to do more government protection. we want more regulation. >> you agreed with me during the br
better not try to buy "the washington post," my friend. you better get in line because you'll be disqualified. and then i tried to describe the people that are already at the post. eugene robinson, dana milbank. all these type. and i said you are probably the most conservative or fair-minded person at the entire "new york times." that's what i said. >> thank you for that. >> but it was as far left as you are, you are probably the most reasonable person, which is why the huffington post probably doesn't like you. >> i don't know where to go with that. >> i have two points who read the allyn sloan piece. >> he better declare. >> but his point was -- >> was it the internet came from the 19th -- >> he was making a very left argument that the internet was a product of the government and, therefore, jeff bezos should be -- >> you guys lost your -- even robert schiller admits that invest investment in infrastructure comes from entrepreneurs. even bono knows it now. >> bono. >> bono? who is bono? >> oh, he's -- >> can i give one irony of that allyn sloan's piece in "fortune." "the
and columnist for the washington post. it's great to have you to help us make sense of this. the question i have, maybe it's just such a myoptic view of the united states, what is the president supposed to do with all this? >> it's a question, because we mid-wived the coup they had. we were basically in the ticking to pieces you saw at the time the military took over to restore democracy, we were involved. we helped usher in the change. we keen of legitimized it by not calling it a coup so military aid could continue to flow. we bankrupted the military billions of dollars. >> is it kerry or mccain? i have seen some. >> mccain may have. i don't think perry has. official policy can't be it's a coup or we have to cut off aid. so our hands aren't really clean in this. now we got this terrible mess. i'm not saying it's easy. be you the idea, you know, in retrospect, could we have been patient and let the brotherhood folded out two years from now? >> that's the history. what do we do now? do we have a role? if we do, what is it supposed to be? >> i think we have no credibility now when it comes to the
happening in washington and more about what the media speculation that is every day, somehow they're sitting around every single day. >> for markets, a little slow news. >> i've been interested. we're not waking it up. we know at first it was larry summers must be floating his own name. that's bs. coming straight from the white house and the president did bring it up and did defend him. >> you saw who the bane backer is. gene sperling. >> geithner. we know who he hasn't gotten along with. that's what is a little bit surprising. i don't think he got along with valerie, but i don't know. we'll see. but obama rewards -- he's loyal. i think summers has been -- summers was in a much more centrist administration and, you know, clinton. clinton had a good record. >> i feel bad over the whole debate. i think it minimized and belittelled both yellen's and summers qualifications. >> and twisted them into almost clic cliches. >> ridiculous. >> caricatures of who they are. right. >> i think both of them are incredibly qualified. i think both of them would do a very good job. i think summers has gotten a
to argue about what the meaning of is is. >> that was bill clinton. >> washington. >> as the market was moving yesterday, what struck me you watch the ten year yield push above 2.7%, and the stock market continued to climb is this an indication that good news is good news because while the gdp numbers were weak, all the economic numbers we got yesterday were stronger than expected. >> i think that's true. in managing the strategies, we're looking at three things. just going back to the earlier -- what we're seeing is a macro climate that is improving. i would push back a blilittle b over the course of the second quarter, it is clear we saw a slowdown in shipments but started to see a pickup in new orders. i think we're poised for a better second half. i think the pickup in the ism while higher than certainly i think everybody expected in including myself, it does suggest that we're starting to get some reacceleration as we go to the second half. i think that's what the market wants to see and it is getting it. it is kind of a good news is good news and bad news is good news and that
'll try to be around. i don't know of anything in particular. >> you have signed us up for a washington, d.c. show to go down there on the anniversary of that, to talk to barney frank and talk to barney frank and chris stein, right? >> is there going to be enough material for andrew to write a sequel is the bigger question. >> yes. thank you. >> sequel for what? >> too big to fail. >> too big to fail. is that the -- okay. you need to mention it, if you're going to bring it up, you need to mention it. >> we reported this and others did yesterday, leslie called welcalledwell will be nominated to be the head of the criminal division. she's been in private practice for the last seven, eight years. and so she knows a thing or two about public pressure to bring indictments. >> you're coming back, i just heard, we can wrap this up. we're going to come back. we're going to hammer this thing. do you think holder has been watching a lot of "american greed"? >> let's hope so. >> a lot of people do. that's where you see a lot of -- you must think, you know, look at what's going on. i haven't done anyt
, wouldn't hurt to put it off one month to be able to see what they do in washington. look, i am still reeling from the interview you guys did with jack lew where he said there's going to be no negotiations. it's going to be basicallify fiat. that is going to slow down. every time we have one of these wranglings in washington, it slows down job growth. >> it blew your mind when they announced 85 a month. didn't it? how can we now feel like it's so norm small. >> look, i want out of taper, too. i want out of the story. i do think that i want -- want job growth. the only thing that stands in the way of job growth is washington. it's not bernanke. it's the congress and the president. they kill small business. they kill confidence. i think they're going to take another run at it. >> hopefully -- >> i'm really nervous about this. forget about syria. >>> jim, thank you. we'll see you in just a few minutes on "squawk on the street." >> thank you. >>> coming up, our guest host this morning, the only other person is ralph fosting, i have to do it, i have to wait. it's hard for me. get the last
send it over to washington for a second, i have a question for you, which is nasdaq is taking it on the chin clearly. ultimately is the new york stock exchange arca going to take it on the chin in the same way? >> well, you know, it is interesting. we don't know, right? we don't know whether the problem originated with the feed, and that was what was corrupting the trading and the feed information for nyse arca in the first place. the question is, was this a software glitch and where did it originate and how is it -- it is talking to folks who are engineering in far more well versed when it comes to computing, they still don't understand how if there was a problem with the arca feed, how that then brought down the whole system, why you need to bring the whole system down in order to fix it. that is a question. why wasn't there some sort of redundant way to do a work around and not have to bring the entire system down. >> bertha koomz, you'coombs, a job and we'll be coming back to you multiple times this morning. now to washington and we'll talk to allison pruett to help us mak
controlling a lot of things since the rest of washington hasn't really been doing anything but sort of pointing fingers at each other. it impacted economic growth. also the equity markets. i think the fed is the key thing to watch right now. >> john, would you agree with that? >> it's tom. the fed has attempted to control everything. they've attempted to get you to go do risky things with your money. >> you know it's working? >> it is not working economically. >> it's worked for equity investors. >> it's worked to get the money to drive the access prices up. whether it's a house or a bond. economically, the gdp rate is shorter than in november, 2010. >> eths hard to argue the counterfactual, where we would be without it i guess. >> it is difficult. you run this grand experiment if fed thinks if i raise asset prices, then people will feel wealthier. they will go spend more money earnings will go up, people will have more wealth. they'll spend money, we'll hire people. in that grand experiment to date hasn't worked. in you think further about it. only about the wealthy top 25% have be
leaders a leg up. the washington post reports an audit found the national security agency has broken privacy rules thousands of times each year since congress granted the agency broad new news for 2008. most of the incidents involve unauthorized surveillance of americans or foreign intelligence targets in the united states. both are restricted by law and executive order. the post received the documents from former nsa contractor edward snowden earlier this summer. >> this is the -- i have to say, this is one of the first articles i read which has changed my view again on this whole thing. i don't know if you remember, i went from thinking hero with snowden originally. and then when i thought the preside p.r.i.s.m. program was overstated, i was less enamored with what we were hearing, because i thought it had become overstated. and now i'm anxious all over again. if this is all really true, i say hero again. >> i don't know i go to hero on that position with this. i still think this is a position where in this case he is putting americans at risk. but if you look at some of the issues
price. i think we're in the early innings of. rick, on the front page of the washington post, they talk about the bls data that came out yesterday that states specific where unemployment is concerned. it talks about how sequester is hitting the region, maryland, delaware, d.c. unemployment is up. it talks about the southeast and how some of the u.s. portions are incredibly weak in terms of the economy, do you think that will play a role at all in this september 17th date we have circled on the calendar? >> i do. i do. i would take the words sequester out of there. to me, it makes it political. the issue is more simple than that. maybe it's not the best way to cut budgets. sometimes when you spend less, every time you spend less, the receiving end of what you are not spending is going as to potentially contract some areas of the economy. that's just the way it is. but i think that employment is not responding in a fashion that the fed would like to you believe with regard to their programs. i think with regard to many states, there's lots of air pockets of unemployment. it's going to be
is not going to challenge marijuana laws in washington and colorado. both states permit recreational marijuana use for adults. still illegal under federal law. the doj issued a list of eight priorities for federal prosecutors who enforce laws dealing with marijuana and including -- >> not allowing the sale of marijuana to the youngsters. >> in your history, i don't even -- >> what are you suggesting. >> do you want to weigh in on this at all? want to recuse yourself at the start? >> i don't even know anything about this. >> okay. >> i don't know why you would -- >> that's our story and we're sticking to it. here's what i'll say. here's what i'll say. given that these things are everywhere, even other drugs, i know the libertarian take on why don't we legalize everything and tax it and regulate it and make sure it is pure, all that kind of stuff, same with prostitution, all these things, and it is a hard -- it is one those issues i could give -- if you assign me a side, i can take either side. >> doesn't this open the floodgate for any state that wants to do it now? >> yeah. and states rights -
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